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You've Got to Know When To Hold 'Em

"THE GAMBLER"

"You've Got to Know When to Hold 'Em, Know When to Fold "Em,

Know When to Walk Away, and Know When to Run.

I believe this describes the real estate business to a tee. It's all about Negotiating. My Daddy said "never let them see you sweat." Use a poker face. Timing is everything, knowing when to hold or when to fold.

Sometimes I walk away and other times I run! LOL You don't want every listing you find. Trust me, sometimes walking away or running is better than working with a listing that has serious problems. It will cost you money and time and frustration that could have been avoided if you had not taken such a listing. It can cost you money because it takes away time that you could spend on another listing.

Kenny Rogers turned this song into a hit in 1979 and it has remained popular throughout the years. The next line goes, You never count your money, when you're sittin' at the table. There'll be time enough for counting when the dealin's done. This line has always stuck with me. I never count my commission until the contract is finished and many times not until closing. Call me superstitious but that's something I've always done. My Mama taught me "Don't count your chickens before they hatch."

I like OLD SAYINGS and SONGS. They speak to me. Once they get into your spirit, you never forget them.

The gambler mentions the "secret to survivin' is knowing what to throw away and knowing what to keep. How true that is when we work our leads. Ever let go of one that turned out to be really good for someone else? I have. Practice makes perfect, another old saying.

This is my "inspired by song November contest" entry. I found "an Ace that I could keep" when I found Active Rain!

Posted by Ricki Eichler, your Texas Hill Country connection on 11/13/2007 12:21 AM

Comments (28)

inspired by song november contest, negotiating, listings, commission, leads, kenny rogers, money

28 Comments on You've Got to Know When To Hold 'Em

Vwery cute post. I have had severa; transactions that I should of folded .

11/13/2007 12:35 AM

by Ginger Magoon, College Station, Texas Real Estate (RE/MAX Bryan College Station Texas)

Thanks for joining our contest! I will be commenting after the winners are announced.

11/13/2007 12:39 AM

by Jason Crouch, Broker - Austin Texas Real Estate (Austin Texas Homes, LLC)

It is the part of the business I like best, Poker face time. Great post!

11/13/2007 12:40 AM

by Matt Ratcliffe, REALTOR (Keller Williams Realty Brazos Valley)

My husband is a firm believer that calculating the commission to be paid is a sure way to jinx the deal. I can't help myself. I look at it as motivation to make the deal work.

11/13/2007 12:42 AM

by Susan Walters (Keller Williams Realty, Ann Arbor, MI)

Here in San Diego, if you don't Know When to Walk Away, you'll waste a lot of time and energy. Just in the last two months, I walked away from three listings that had mortgages tens of thousands higher than their current sale values.

Bob Schwartz

San Diego real estate broker

11/13/2007 01:32 AM

by brokerforyou.com

RICKI: Thank you for entering the contest. I'm looking forward to reading your entry. I'll be commenting on each entry once the contest is completed.

11/13/2007 06:52 AM

by Adam Waldman - Long Island REALTOR® (RE/MAX Best)

Hi Ginger, Thanks for commenting. Knowing when to fold is something that we learn over time. New agents don't understand this. LOL Have a great day in your Gingermobile!!!!

11/13/2007 08:19 AM

by Ricki Eichler, your Texas Hill Country connection (Hill Country Estate Properties)

Thanks Jason, I'll be looking forward to your comments. Have a great day! :)

11/13/2007 08:20 AM

by Ricki Eichler, your Texas Hill Country connection (Hill Country Estate Properties)

Hi Matt, I think I am with you here. It's the fun part that only lasts a little while but what a rush!

11/13/2007 08:22 AM

by Ricki Eichler, your Texas Hill Country connection (Hill Country Estate Properties)

Hello Susan, I'm glad to know someone else is like me in this. LOL I think it's a little silly but don't want to take a chance and jinx the deal. :)

11/13/2007 08:25 AM

by Ricki Eichler, your Texas Hill Country connection (Hill Country Estate Properties)

Good Morning Bob, That's a great reason to walk away. Sometimes, we just can't FIX the deal. I'm getting ready to walk away on one right now. Thanks for commenting!

11/13/2007 08:29 AM

by Ricki Eichler, your Texas Hill Country connection (Hill Country Estate Properties)

Hi Adam, I'll be looking forward to your comments, just as always. Thanks for the encouragement and support you have always given me and all the nice comments. Have a terrific day! :)

11/13/2007 08:31 AM

by Ricki Eichler, your Texas Hill Country connection (Hill Country Estate Properties)

Ricki, I LOVE IT!! I always say it is not over until the fat lady sings. I have had deals fall apart at the very very end. In this business you never know what could happen!!!

I totally agree about those listings also. I just terminated one that I felt was a law suit waiting to happen. Life is too short to put ourself in that kind of position.

11/13/2007 09:09 AM

by Marchel Peterson Spring TX Real Estate E-Pro ABR (Results Realty)

Ricki, what a great analogy with this song! We all need to learn when to walk away....and I NEVER count my money ahead of time - bad luck :)

11/13/2007 11:22 AM

by Lisa Heindel, New Orleans West Bank Real Estate (Latter & Blum Inc. Realtors)

Hi Marchel, I like that fat lady sings saying too. I've seen it all go down the tube at closing. So sad when that happens. Life is too short and our health too important to keep some listings. Remember my shingles, well there's a story!LOL

11/13/2007 01:35 PM

by Ricki Eichler, your Texas Hill Country connection (Hill Country Estate Properties)

Hi Lisa, I'm with you on that one! When I've got it in the bank and can start writing checks, then I take a breath but not til then!

11/13/2007 01:37 PM

by Ricki Eichler, your Texas Hill Country connection (Hill Country Estate Properties)

Ricki-I like your outlook on this subject. It keeps the mind at peace to just wait until after the deal closes before counting the money. That's for sure.

11/13/2007 01:57 PM

by Julie Neerings~Lifting Hearts ♥ Building Dreams~Utah REALTOR® (Keller Williams Salt Lake City)

Hi Julie, That's true and it also helps me to keep my clients best interest above all else. Thanks for the comment. :)

11/13/2007 02:09 PM

by Ricki Eichler, your Texas Hill Country connection (Hill Country Estate Properties)

Ricki, very good post. I learned early on in my career that you never count your commission before closing -- that's a sure way to jinx it!! It takes awhile to learn that it's ok to walk or run away from a seller or buyer. Have to learn to listen to your gut about when to hold 'em and when to fold 'em.

11/13/2007 08:35 PM

by Judi Morgan, San Antonio, TX Real Estate (Coldwell Banker D'Ann Harper, Realtors)

How True, Judi! We've got stories to tell after all these years, huh?

11/13/2007 09:30 PM

by Ricki Eichler, your Texas Hill Country connection (Hill Country Estate Properties)

"Never count your chickens before they hatch!" I've learned that the hard way, as I'm sure we all have! And, of course it has happened to me as a Realtor. I LOVE the song and Kenny Rogers and I think your post and analogy of the song was great!!! And I love to hear from another PROUD TEXAN! YEE HAW!!

11/13/2007 09:42 PM

by Jennifer Dahl - DFW TX Real Estate - Frisco, Prosper, Celina, Allen, McKinney (Century 21 Judge Fite Company)

Hi Jennifer, Thanks for the nice comments! We are a Proud Group but we've got lots to brag about, right?

11/13/2007 10:44 PM

by Ricki Eichler, your Texas Hill Country connection (Hill Country Estate Properties)

The Ace that I could keep .... knowing when to hold them - this is a song that runs through my mind weekly - the lyrics are full of meaning, truths, and emotion. Great work of art!

11/13/2007 11:41 PM

by Sharon Lancaster Re/max professionals, Winnipeg, Manitoba (Re/max professionals, Winnipeg, Manitoba)

Ricki, This is a great tune, Full of wisdom for any walk of life. Esp ours. This post is an ace!

Ginger

11/14/2007 12:20 AM

by Wilmington NC Real Estate Ginger & Roger Sala Keller Williams (Keller Williams Wilmington North Carolina)

Thank you Sharon, for your comments. I sing this song often and it helps me in this business, it is a work of art! Have a great day!

11/14/2007 04:42 PM

by Ricki Eichler, your Texas Hill Country connection (Hill Country Estate Properties)

Ginger, thank you so much for commenting. I love this song and it works for lots of professions but it really fits real estate. I'm glad you liked this post. Have a terrific week!

11/14/2007 04:45 PM

by Ricki Eichler, your Texas Hill Country connection (Hill Country Estate Properties)

Ricki, thanks for commenting on my post. It led me here, and I wouldn't have wanted to miss this.

It is a good song to use as a basis for life's decisions.

Kenny Rogers is a spokesman for an Indian Casino near here so I see his billboard almost every day. Makes it kind of hard to forget "the gambler."

Bill Roberts

11/15/2007 12:24 PM

by Bill Roberts - "Baby Boomer" Retirement Planning (Brooks and Dunphy Real Estate)

Thanks Bill for the comments. I love this song and Kenny Rogers has always been a favorite of mine too.

11/15/2007 01:42 PM

by Ricki Eichler, your Texas Hill Country connection (Hill Country Estate Properties)

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